Sri Lanka national inflation hits 8.6-pct
Oct 23, 2017 19:07 PM GMT+0530 | 0 Comment(s)
ECONOMYNEXT – Inflation in Sri Lanka, measured by the change in the National Consumer Price Index (NCPI), rose to 8.6 percent in September 2017 from a year ago, the highest in six months compared with 7.9 percent in August 2017.
Both Food and Nonfood categories contributed towards the year-on-year inflation in September 2017, according to the index compiled by the Department of Census and Statistics (DCS).
The central bank said in a statement the change in the NCPI measured on an annual average basis increased from 6.5 per cent in August 2017 to 6.8 per cent in September 2017.
The monthly increase was mainly due to the increase in prices of the items in the Food category, it said.
The NCPI Core inflation, which reflects the underlying inflation in the economy decreased to 4.6 per cent in September 2017 from 4.8 per cent in August 2017 on year-on-year basis.
Annual average NCPI Core inflation declined from 5.8 per cent in August 2017 to 5.7 per cent in September 2017.
Within the Food category, prices of coconuts, red onions, rice, limes, some fruits, big onions and sugar increased during the month while prices of vegetables, fresh fish, garlic and Mysore dhal fell marginally during the month.
Prices in Clothing and Footwear; Housing, Water, Electricity, Gas and Other Fuels (LP Gas); Furnishing, Household Equipment and Routine Household Maintenance; Education (School fees (International)) and Miscellaneous Goods and Services sub-categories increased.
Prices in Communication (Internet charges) sub-category decreased marginally during September 2017. Alcoholic Beverages and Tobacco (Beetle leaves) sub-category also increased during September 2017.
Meanwhile, prices in Health; Transport; Recreation and Culture; and Restaurants and Hotels sub-categories remained unchanged during the month.
(COLOMBO, October 23, 2017)